## A Disequilibrium Model of Demand for Factors of Production |

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### Contents

Mature of the Problem and Relation to the Literature | 1 |

The Structure of the Model | 13 |

Characteristics of the Data | 40 |

Copyright | |

11 other sections not shown

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### Common terms and phrases

55 Source Actual and Estimated autoregressive model Based on model capital stock Chapter characteristic roots coefficient of determination Constant convergence cross-adjustment denotes relative prices dent Variables Prod Dependent Variables Nonprod disequilibrium distributed lag patterns distributed lag responses dynamic equations error of estimate Estimated Structure Estimated Values excess demand exogenous variables factors factors of production feedback Figures in parentheses forecast errors Hours Capital Util Inven Jorgenson lag operator long-run elasticities matrix natural Indepen natural logarithms nondurable industries nonproduction workers Note output output elasticities overshooting price elasticity production function production worker employment rate of utilization reduced form returns to scale sales elasticities sample period serial correlation short-run specification squared residuals standard error statistically significant stock variables Structure of Model sum of squared Table time-series total durables Total Inventories total manufacturing Total Nondurables utilization rates variables except trend wjc denotes relative Yu-i